To refinance your mortgage, start by considering whether you want to lengthen the term of your mortgage so you can make smaller monthly payments. Alternatively, consider shortening the term, which will increase your monthly payments, but reduce the amount of interest in the long run.

You can extend it back to a 30 year fixed-rate mortgage and since your loan balance is smaller than it was originally your payment will be lower. You may be able to extend your mortgage loan to a 40 year term as well, this would lower your mortgage payment significantly.

It’s almost like paying double the funding fee during the first few years of the loan. The longer you wait, the more the principal falls, though. This can help you owe less for the funding fee, making the refinance well worth it. The bottom line is that you can refinance your VA loan whenever you want.

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(See also: How Long Does it Take Break Even With a Home ReFi?) 2. Can you refinance to a shorter loan? Refinancing isn’t just a way to lower your monthly mortgage payment. You can also reduce the.

Q: If you have a fixed-rate mortgage, why would you ever want to. For a home- run refinance, try to find a deal that helps you do these four.

How often can you refinance a mortgage? Fortunately for you, there are no laws when it comes to how often you can refinance a mortgage. "We’ve had [customers] where they just completed their loan the previous month, and they come in to refinance with us," said Joe Zeibert, senior director of product pricing and credit at Ally Bank.

One of the major risks of refinancing your home comes from possible penalties you may incur as a result of paying down your existing mortgage with your line of home equity credit. In most mortgage agreements there is a provision that allows the mortgage company to charge you a fee for doing this,

It’s almost like paying double the funding fee during the first few years of the loan. The longer you wait, the more the principal falls, though. This can help you owe less for the funding fee, making the refinance well worth it. The bottom line is that you can refinance your VA loan whenever you want.

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